She was designed by Ted Geary and built by N. J. Blanchard Boat Co.,[2] Seattle, Washington.

The 'Malibu Rapids' navigation channel at the entrance to Princess Louisa Inlet, near Malibu Camp, is also named after the yacht.

Malibu was purchased by Wells McCurdy in 1973 and reconfigured with raised wheelhouse and other arrangement changes.

On July 3, 2002, Malibu sank after running into a rock in the San Juan Islands of Washington State.

There were no injuries, but the yacht had to be extensively rebuilt and was re-launched at Seattle's Foss Shipyard in 2003.